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Billionaire hedge fund manager John Paulson is no stranger to American politics. He rocketed to fame and literal fortune by correctly betting against the subprime lending market that led to the financial crisis of 2007 and 2008.
And when President Trump threw his hat into the political ring for the first time in the 2016 elections, John Paulson was a big supporter. As in… a BIG supporter. This time around, Paulson has contributed a whopping $806,300 to the Trump 47 Committee, according to Forbes.
Why? It’s very simple. He has a lot of money he doesn’t want to lose, and he would prefer to keep making more. And the idea that Kamala Harris might win the election and unleash her economic agenda on U.S. markets… really, really scares him.
John Paulson: I’d go into cash and gold if Kamala Harris is elected @FoxBusiness https://t.co/g2u6J9WCb8
— Liz Claman (@LizClaman) September 17, 2024
Paulson appeared on Fox Business’ “The Claman Countdown” on Monday, and on CNBC’s “Money Movers” a few days before that. And he didn’t beat around the bush either time about what he thinks will happen if Kamala Harris wins the election in November. Here he is on CNBC a few days ago:
We’re talking presidential policies with Paulson & Co. Founder John Paulson, who offers predictions on the impact of both the Harris and Trump campaigns’ tax plans. pic.twitter.com/hqJoRQocEw
— Money Movers (@moneymoverscnbc) September 13, 2024
“I think if they implement those policies, we’ll see a crash in the markets.” I don’t really think it takes a billionaire hedge fund manager to come to that conclusion, but I certainly wouldn’t ignore it when a billionaire hedge fund manager says it!
He said that much and more yesterday while on Fox Business talking to Liz Claman:
Hedge fund billionaire and major Trump fundraiser John Paulson said Tuesday he will pull his money out of the market if Vice President Harris wins the presidential election this fall, saying the Democrat nominee’s economic policies would spook investors.
The Paulson & Co. founder, known for his lucrative bet against the subprime mortgage in 2007, appeared on FOX Business’ “The Claman Countdown,” where host Liz Claman asked him what he sees as the next big bet similar to that.
“Well, I would say it very much depends on who’s in the White House and who controls Congress,” Paulson replied. “I’d be very concerned if Harris is elected and pursues the tax plans and other economic plans that she articulated.”
Paulson said during the interview that former President Trump and Harris’ plans for the economy are very different, noting that Trump wants to extend the 2017 tax cuts implemented during his term in office while Harris wants to let them expire.
He also noted that Harris has proposed raising the corporate tax rate from 21% to 28% and wants to raise the capital gains rate from 20% to 28%.
Those are crazy rates. What makes a Billionaire hedge fund manager jump ship, pull out tons of money from the markets, and go into cash and gold as a hedge against uncertainty?
LOTS AND LOTS OF UNCERTAINTY… that’s what. And according to John Paulson, financial uncertainty is spelled K-A-M-A-L-A. Here’s another clip of him explaining the difference, in his mind, between a potential Harris economy versus a Trump economy:
Paulson & Co. Founder John Paulson expands on why he supports the Trump campaign in the upcoming election, discussing what he’s expecting for both markets and the economy if the former president returns to the Oval Office: pic.twitter.com/FWdyAnioFC
— Money Movers (@moneymoverscnbc) September 13, 2024
Markets hate uncertainty, and that’s what makes this very simple to forecast out. That’s why what he is saying is so hard to argue with. Markets HATE uncertainty. And uncertainty is the most CERTAIN THING about Kamala Harris!
It is basically inevitable that a Harris-Walz administration will usher in a financial sell-off that far exceeds the market’s ability to recover from. And that means… a crash is coming if Kamala actually wins the election.
With more detail on the plans he divulged yesterday on “The Claman Countdown”, here’s more from our Fox News story referenced previously:
But Paulson has said that market timing and investor timing will really matter depending on who is president, and Claman asked him if he is ready to take that chance.
“It depends on the policy,” Paulson said. “I think if Harris was elected, I would pull my money from the market. I’d go into cash, and I’d go into gold because I think the uncertainty regarding the plans they outlined would create a lot of uncertainty in the markets and likely lower markets.”
Here’s the thing about hedge funds — they can take a beating. They are designed to weather storms. This is a billionaire hedge fund manager… saying if Kamala Harris wins the election, he’s done. If he’s right, and his hedge fund can’t stand the uncertainty injected by a Kamala presidency, who can? The answer is not many, if any; hence the expected sell-off.
And then… there’s this:
JP Morgan CEO Jamie Dimon warns that stagflation, a crisis worse than a recession, remains a real possibility for the U.S. economy pic.twitter.com/2OSioek1il
— Barchart (@Barchart) September 14, 2024
So… what will happen if Kamala wins? According to one of the most successful hedge fund managers on the planet, huge sell-offs. And what are his plans? Abandon ship. Cash and gold will become safe havens from uncertain market volatility.
And I hate to surprise you with more bad news, but even without a Kamala win we are apparently in danger of something WORSE than our current inflationary problems: stagflation. Here’s a quick look at a current story running in The Daily Mail for info on that worry:
Paulson then said market timing and investor timing would make the difference in the markets if Harris were elected.
But still, he said, he is not willing to take the chance and would sell off his stocks.
His remarks come just days after JPMorgan Chase CEO Jamie Dimon said he would not rule out an outcome for the US economy which is widely considered to be worse than a recession.
The chief executive of the country’s biggest bank said this week ‘the worst income is stagflation,’ which he would not ‘take off the table.’
Economists widely consider stagflation, last seen in the US in the 1970s, to be worse than a recession. It would send stocks down, hitting 401(K)s and other retirement savings.
Stagflation is the combination of economic stag-nation and in-flation. Prices continue to soar at the same time as unemployment rises and economic growth slows – a triple whammy of problems.
In a recession, unemployment increases and the economy shrinks – but the silver lining is that there is little or no inflation.
Dimon says he worries that there are still a raft of inflationary forces on the horizon, and pointed out that higher deficits and increased government spending will add pressure to an economy still reeling from the impact of sustained higher interest rates.
We may have a price to pay yet for the failed Biden-Harris policies, even if “we the people” successfully put President Trump back in the White House. Regardless, there is no doubt judging from what happened under his first term, that the markets like President Trump and his policies. There may be localized shake-ups in the market every once in awhile because of “mean tweets” er- “mean posts”? But localized volatility is a lot different than the inherent uncertainty of a Harris economy.
For the sake of every American, not just the billionaires, who have money they would rather not lose, and hopes of making more — let’s hope that what we are seeing now is the closest we ever get to seeing an actual Harris economy.
RELATED REPORT:
GET YOUR MONEY OUT OF THE BANKS!
I’m going to give you one big disclaimer upfront: I am not a financial advisor and I can’t give you personalized financial advice. We square on that? Ok good.
But I am a reporter and what I see happening with the banking system scares me a lot.
The first thing that scares me about keeping dollars in a bank account is how they lose value year over year.
You know that right?
Think you’re being smart and “saving up”?
You’re literally losing money every year to inflation.
This perfectly sums it up:
This. pic.twitter.com/rvvuoYvE8i
— Declaration of Memes (@LibertyCappy) July 29, 2024
Yes, if you simply left $1 million in cash in the bank since 1913, do you know what it would be worth?
$40,000.
Your $1 million from 1913 would have the purchasing power in 2024 of $40,000.
Ouch!
But that’s not even what scares me the most….
What scares me is another round of bank closures like we had last year.
Here’s what’s happening in China right now:
BREAKING: 40 Chinese Banks Just Crashed and Vanished — “Worse Than 1980 S&L Crisis!”
Yes, that’s real.
And yes, I believe it comes here next.
But even if your bank is open, can you get the money out?
Have you ever tried?
Sure you have to leave some money in there, but you don’t want big amounts of money sitting in bank accounts.
Because you might never be able to get it out!
Go ahead, test me out on this…even right now in good times (before a full-blown banking crisis hits America) go to your bank right now and try and withdraw $10,000. They will look at you with panicked looks on their face. I guarantee it. Then they’ll go get their supervisor. The supervisor will come over and tell you they can’t do that today. Come back in 2-3 days. And then they’ll start the interrogation. “What do you need this money for?” “Where is this money going?” Only after you answer all their questions, wait 2-3 days, fill out a bunch of paperwork, only then will you MAYBE be allowed to take YOUR money out of YOUR account.
I guarantee that’s how it will go for you….
Test me out!
Go try it and report back below in the comments.
So now the big question: Ok, what can YOU do about it?
How do you prepare?
How do you make sure you and your family are not at risk when the banking crisis hits America (which I believe it will, very soon).
The answer is you do exactly what I’ve been preaching about for over a year now….get your money OUT of the banks! (Not personalized financial advice, just common sense from where I sit). That’s Step #1.
Hold firm, be determined, play their stupid games, and get your money out of the banks!
Because while YOU view it as your money in your bank account, that’s not how the bank views it. The bank views it as their money. And the dirty little secret is they LENT OUT your money to other people already. Sometimes 9-10 times over! It’s true, I’ll do a separate report soon on that explaining “fractional reserve banking”.
But Step #2 is the most critical….you don’t want to just get your money out of the banks, you want to get it out of the US Dollar.
The most basic and traditional financial wisdom has always viewed Precious Metals (Gold and Silver) as the safest places to have your money when a crisis hits.
So while I can’t give you personalized financial advice, I can tell you a couple things: (1) the Big Central Banks have all been buying Gold and Silver hand over fist for the last couple years. Gee, I wonder why? And (2) Gold and Silver have stood the test of time back to the Bible times as being the best store of wealth to weather out a storm in the economy. Period.
And now Step #3 is where I’m going to make sure I don’t leave you hanging.
I have two killer connections for you…
Two companies that I trust for getting the best deals on Gold and Silver. PHYSICAL Gold and Silver, the real stuff. Not some phony symbol traded on some stock exchange that may or may not have actual Gold and Silver backing it up. You want the real stuff.
And because I love the free market and competition, I have two great companies to recommend to you. You can talk to both, see who you like better, and then take action!
The first is WLT Precious Metals ran by my friend Ira Bershatsky.
I have personally sent family members to Ira for 5-figure purchases of Gold and Silver and he treated them like royalty. They were very pleased.
That’s how much I trust Ira.
I didn’t tell him I was sending them over either (and these particular family members have a different last name) so I did it as a bit of a “secret shopper” test and Ira passed with flying colors.
Of course I knew he would.
That’s why I work with him and that’s why I have confidence telling you about him.
Ira can handle bulk purchases of bullion, coins, whatever you want.
All custom ordered and shipped right to your door.
A lot of people love Bullion because its the cheapest and most economical way to do it, to stretch your dollar into as much gold and silver as possible.
The website is called WLT Precious Metals and when you see my logo in the top left-hand corner, you’ll know you’re in the right place.
You’ll get a personal phone call with Ira Bershatsky (or someone on his team) and they will work with you free of charge for as long as needed to answer any questions you have and get you taken care of.
How about that!
You don’t see that much anymore, but Ira and his team pride themselves on good old-fashioned real customers service:
No sales pitch, just real, actual help.
And the best prices you will find.
Here’s the only disclaimer I will give you: because they do pride themselves on dedicated service, it might take a few days before you get a phone call back. Just be patient.
Good things come to those who wait!
You can contact Ira and WLT Precious Metals here.
Ira can also help you if you want to purchase Gold and Silver in your IRA.
I mean, his name is Ira, after all, OF COURSE he can help you purchase in your IRA account.
The thing I love about purchasing in your IRA account is you can do it with no money out of pocket. You just take money already in the IRA account, perhaps in stocks or bonds or other investments, and you can shift it into Gold and Silver.
Again, I’m not your personalized financial advisor, I’m just explaining how it works.
And it’s REALLY cool.
So even if you’re saying times are tough right now, I don’t have a lot of spare money to shift into Gold and Silver, you might have a golden opportunity (pun intended!) already sitting there in an established retirement account.
Ok, that was option #1.
Now I want to tell you about option #2.
An equally great company, I am so happy to be working with these guys.
This next company is called Genesis Gold and this is also for people who want to purchase real physical gold or silver in their IRAs (Investment Retirement Accounts).
In addition to “no money out of pocket”, do you know what the beauty of that is?
TAX FREE baby!
I’m not a tax advisor, but that’s a general oversimplification.
Never pay more taxes than you are legally required to pay.
And that’s why I love getting gold and silver in my IRA (and why I hold a large chunk in an IRA myself!).
There’s so much to love about Genesis Gold, starting with the fact they are proudly and un-ashamedly Christina!
They call it “Faith-Driven Stewardship” and they put it right on the homepage of their website along with a quote from Ezekiel:
Here’s more on why gold and silver in your IRA are so powerful:
You can contact Genesis Gold here.
They are also very backed up with record demand, so you may have to wait a bit, but someone WILL get in touch with you for personal customer service and assistance!
Tell ’em Noah sent ya!
Oh, and did you know Genesis is recommended by SUPERMAN himself?
It’s true.
Superman himself, Clark Kent — Dean Cain — came on my show and we broke it all down:
Watch here:
Stay safe!
Be ready.
Be prepared.
Before you go, I have one more thing to show you….
This actually just came out and it’s super cool.
In addition to bullion, coins or even Gold and Silver in your IRA, this has a very specific purpose and it might be worth having some on hand:
Buy It — Break It — Trade It — New Silver “Invention” Has Never Been Done Before!
A new physical precious metals product launched that immediately caused a stir in the gold and silver industry. “Prepper Bar” is a utility bar that is perforated to allow owners the ability to break off pieces ranging from 1.5 grams up to 7.7 grams.
They fit nicely in one’s wallet so they can be carried around constantly.
“People have been asking me how we came up with the idea and I have to tell them that I can’t take credit,” said Jonathan Rose, CEO at Prepper Bar. “Over the years, our customers have been asking for something tradeable, portable, and spendable so we made Prepper Bar as the perfect accommodation.”
These 62 gram bars are flat and come in either silver or gold. The Silver Prepper Bar is available for immediate shipment while the Gold Prepper Bar will be available by the end of June.
We asked Rose what makes these bars so different from regular bars or coins.
“Gold and silver are great for holding wealth but you’d need a pretty sturdy hacksaw to shave off incremental chunks for sale or barter,” he said. “Prepper Bars are strong but they can be easily broken along the perforations so if we find ourselves in a pinch, we can break off the right amount, no problem.”
Check out the new Prepper Bars today!
How cool is this?
(Note: Thank you for supporting American businesses like the one presenting a sponsored message in this article and working with them through the links in this article which benefit WLTReport. We appreciate your support and the opportunity to tell you about Genesis Gold! The information provided by WLTReport or any related communications is for generalized generalized informational purposes only and should not be considered as personal financial advice. We do not provide personalized investment, financial, or legal advice.)
This is a Guest Post from our friends over at WLTReport.